The deal will allow Zebra, whose products help companies such as Amazon track inventory and supply chains, to tap the opportunity presented by the profusion of devices, ranging from cars to smoke alarms, connected to the Internet.

Global merger and acquisition activity has surged this year, mainly in the technology industry. Deals worth about $618.4 billion have been completed, with a third of those in the technology, media and telecom sector, according to Thomson Reuters data.

Quarterly results

Motorola Solutions estimated its quarterly results below analysts' expectations, saying volumes in its North America government business were lower than expected and some orders in its enterprise business were delayed.

The company estimated an adjusted profit of 50 cents per share and sales of about $1.8 billion for the first quarter ended March.

Analysts on average were expecting a profit of 51 cents per share on revenue of $1.88 billion, according to Thomson Reuters I/B/E/S.

Zebra estimated an adjusted profit of 88-91 cents per share and sales of $287 million-$289 million for the first quarter.

Analysts on average were expecting adjusted earnings of 83 cents per share on sales of $281.6 million.